(SgNA) GIC wants US judge to sanction investment firm for challenging Singapore's purchase of four resorts

Singapore's government is losing patience with Five Mile Capital Partners LLC and is now asking a bankruptcy judge to sanction the investment firm for its "unending" quest to derail Singapore's purchase of four resorts. n a letter Thursday to Judge Sean H. Lane of U.S. Bankruptcy Court in Manhattan, lawyers for the real-estate investment arm of Singapore's sovereign wealth fund said Five Mile is violating the judge's demand that Five Mile limit its investigation into whether Singapore negotiated in bad faith when it agreed to buy the resorts for $1.5 billion. The $1.5 billion deal includes a $1.1 billion cash payment for the properties and $360 million in debt forgiveness.

Full article: http://singaporenewsalternative.blogspot.com/2012/12/gic-...

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